Heighten Accountants
Tax Codes in the UK refer to a series of numbers and alphabets used by HMRC to determine how much income tax needs to be deducted from your earnings.
These codes are used to reflect on an individual’s tax-free allowance and any other additional income that requires taxing.
One of the key incentives for someone who saves into a pension scheme is the tax relief on your contributions available from the government. It is a way of encouraging UK taxpayers to save for retirement.
Whatever income tax bracket you fall under, if you pay into a pension plan, you can claim pension tax relief and this article will explain how it works.
